2019 Federal, Connecticut and Florida Estate Taxes

2019 Federal, Connecticut and Florida Estate Taxes

by Julie Jason on Jan 9, 2019

Estate taxes

Federal

The current 2019 federal exemption amount is $11.4 million per person, up from $11.18 in 2018 and $5.49 million in 2017.  That means that 2019 decedents with assets below $11.4 million will not be subject to federal estate taxes.  What about state estate or inheritance taxes? 

 

Connecticut

In Connecticut, for example, the 2019 exemption amount is $3.6 million, up from $2.6 million in 2018 and $2 million in 2017.  That means that 2019 decedents with estates less than $3.6 million will not be subject to Connecticut estate taxes. 

 

Florida

Some states, such as Florida, have no estate or inheritance taxes, thereby “exempting” 100 percent of a decedent’s assets.